Where I am now
1/11/2017 Moved most alts to BTC in preparation for November Segwit fork –
6/11/2017 BTC has moved up 14%. Now sitting on 3.45 BTC
Just before November fork BTC will have moved up a few more percentage points – I will move all BTC into an alt or two, get a 20-30% gain right after the fork then change out, wait 30-60 minutes then change to Tether . AT this point it should be 20-50% gain in BTC.
I will then wait for BTC to drop using technical analysis and sentiment and buy back in. There is always the risk of BCH winning so this is why I am just going to tether rather than wait in BTC.
Post fork: 50% BTC to cold wallet, 25% btc and 25% Alts for trading.
I also have 1.4BCH as insurance in case of a random flippening.
For now, I am looking at past charts to see which alts show most potential (Hint: it seems the HYPED coins are the ones to go for)
What I’ve been doing – launching ICO website soon
The past 2 months I’ve been working on trying to launch a website with a friend which lists crypto ICOs and what we think is a good one going to be. The market is tough and finding out ICO prices for various established coins is proving quite time consuming. Revenue is expected to be quite small and only come from advertising. It’s a labour of love.
I’ve mostly parked my funds in BTC and some alts. However my priority is still saving a deposit for a home.
(Australian) strategy to live partially off BTC or pay bills at a discount
The only trustworthy website out there is livingroomofsatoshi.com which allows you to pay BPAY or send money to your bank account from your bitcoin or favourite coin wallet. The strategy is this
- When BTC price is low, BUY BTC.
- When BTC price is high, transfer BTC to a BPAY bill or your bank account for imminent bill payment.
This literally revolves on a constant source of fiat and recycling of BTC not to be used in alts.
If done right, you can get 5-20% discount on your fiat bills. I will need to do some figures on this but i will use it to pay my credit card bill later this month (market is rising right now in anticipation of the Oct 25 BTG fork)
I have my other portfolio, and I will be using $1000 to start a “buy the hype and sell the news strategy”.
Currently more and more people are pouring into crypto and asking what coins to buy. I will be buying coins based on pure hype and sell and dump on events. Events include
- Listing on exchanges. I’ve been watching some live listings on exchanges and the price usually drops right away.. it may rise later but that is not this strategy
- Renaming, rebranding. e.g. lisk. Buy during hype and when the announcement is made, sell. Long term of course I would hold but it defeats this particular purpose
- ICOs. This one is tricky. e.g. If a big project is being listed that only accepts NEO. I will buy NEO 2 or 3 days beforehand, and a few hours or minutes before launch, I will sell. Because of the time it takes for confirmation. I will probably do the following:
- If BTC or ETH, sell 3-4 hours prior to sale
- If NEO, sell 1 hr before
- If Dash, LTC, sell 10 mins before.
I’ll keep a track and see how this goes.
I bought NEO (antshares) at $16, 2 months ago and sunk $1000 into it. I also bought $1000 worth of other speculative coins like Siacoin, ReddCoin, Stratis, Steem. There were the most hyped up. They went up a bit then went down, and down, and down. Neo went a bit higher.
2 months later (today
NEO is worth $3000 (at $50), while the rest plummeted to about $400. So a $2000 investment turned to $3400. Not bad. So I sold all my shares (about $8000) and have moved it to crypto.
I’m aiming for 50% stable and 50% speculative. Right now this is the breakdown
NEO – Put in $778 at $12.98/NEO. Now $38.50 ea
BTC – Put in $1551 at $4475/BTC. Now $4519 ea
I will also put short term on Lisk soon
XVG – put in $970 at $0.0035. Now its $0.0026. I am hoping XVG gains traction and hits $3. This will then generate almost $1M
WAVES – Put $200 at $4.56. Now its $5.24. Long term hold.
OMG – Put in $145 at $5.64 ea. Now it’s $8.27. Another long term hold. They have a working product. I may chuck a bit more into OMG.
BNB – Put in $715 at $2.17 ea. Now it’s $1.95. This is a chinese exchange, it shows promise as they are launching ICOs on the platform but recently suffered scaling issues.
PAY – Put in $958.44 at $4.30 ea. Now it’s $3.58. Aka TenX. Bought this on hype. They have a working card however has not reached critical mass.
BQX – Put in $739 at $1.24. Now it’s $0.928. Bought on hype. They aim to make a universal wallet. However lots of others are doing the same. BQX are close to releasing though.
DNT – Put in $382 at $0.15. Now it’s $0.16. aka District0x – Big ambitions and I bought at peak during hype. Another rookie mistake. We will see how this goes. It’s only a few hundred.
Portfolio value 27th August 2018 – $7449 or $1.69 BTC.
As you can see, I will need to funnel more money into stable coins. NEO profits have covered my losses in the speculatives. It is highly likely all speculative coins will end up being ‘bags’. OMG seems most stable. We are going for the Pareto principle where 20% of stock will give 80% of gains.
ICOs I’ve participated without much research before launch
Agrello – Put 1.5 eth – looks pretty bad tbh
Loopring – Put 1.5 eth – also looks pretty bad. I fell for the China hype but it’s too late.
ICOs I researched properly and will put money in
– Kyber. Based on ETH but will allow fast transactions via caching of tokens (simplified) amongst hosts. Solid team.
ICOs I’ve avoided after research
– Substratum. Manual issue of tokens. really???? and dodgy website, not a solid team
– TRON. 100 billion tokens and they promise 8-9 years for a working product. Nope.
Control-Finance and why I’m not putting money into it
I *was* in an Australian crypto facebook group and someone posted a link to a website that claimed daily profits. I laughed and got booted. The website is control-finance.com
The website looks SLICK, and professionally made. They have the standard secure SSL buttons at the bottom, and contact details. Looking up the address the company is registered under one person.
The company focuses a lot on two things
- Investment offer of guaranteed 1% daily
- Affiliate program
Any normal person who is scared of new programs would just put a few dollars, in however the affiliate program encourages people to put MORE money into the program. “Representatives” who put $300 or more get their name published on the website. Classic.
REMEMBER WHY CRYPTOCURRENCY WAS MADE
- Cryptocurrency was made to defeat the purpose of the limitations of our current ‘fiat’ system. i.e. inflation and PRINTING of money by the banks. This website is literally funnelling money into its accounts.
Sure, RIGHT NOW they may be paying people, however we are still in early days, and eventually this PONZI scheme will collapse once, however not after millions have been made.
The website right now as of 27th July 2017 the website DOES NOT EVEN HAVE FINANCIAL WARNINGS to tell you that any investment is a risk. A legitimate website would AT LEAST have this. So don’t be surprised if this kind of statement appears soon after I post this.
I just wonder how Benjamin Reynolds plans to take all the money out. It would be interesting to see his/her exit strategy.
But what about the reports?
You’ve given your money to this company who is day trading BTC. BTC goes up and down. How can they pay you if they are DOWN? By relying on more people joining and giving money. If BTC went down and everyone pulled out, the company is dead in the water.
IF YOU ARE STILL GOING TO INVEST AND IGNORE MY ADVICE…
Check the facebook page and find some of the reviews. Reports of money not all appearing, penalties on deposits…
Also, if you still want to put money in. i would suggest getting some profit and GTFO of the program immediately before the ponzi scheme falls over.
Bushrangers and cowboys
At this rate, this side of the crypto world is unregulated. It’s all bushrangers and cowboys scamming greedy people.
In other news, various scams or attacks I’ve seen so far that propelled me to get an offline wallet (affiliate) and be more wary of advice.
- Fake ICOs
- Fake trading groups on telegram / whatsapp promoting scam ICOs amongst legitimate recommendations.
- Crypto trading bots that actually send your funds to their own random address!!
- Mining rigs being hacked and destination addresses being changed to random addresses. Dirty.